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19 May 2010

Glynn County Sits On $34 Million Surplus, Maybe It's Time For Tax Cuts Or Rebates

"Counties are not in the business of hoarding money. We are in business to operate."

Those are the words of Camden County Finance Director Michael Fender who learned recently that neighboring Glynn County has a surplus of $34 million.

The Brunswick News reported today that Glynn County has a $34 million reserve fund that "eclipses that of other coastal counties, including one with three times the population." The coastal Georgia paper also said that local politicians are trying to figure out how to spend all that money [Batiwalla, Nevin (2010-5-19). County sitting on $34 million. The Brunswick News. Retrieved on 2010-5-19.].

Here's a novel, but not completely unheard of idea: put some of the money away and return the rest to the people. It's not the government's cash.

Glynn County should put fifty percent of their surplus in reserves for a rainy day. That's about $17 million. The remaining $17 million should be returned to the people.

According to 2008 Census Bureau population estimates, Glynn County has a population of 75,884. A $17 million tax cut or tax rebate would put $224 back in the taxpayers' pockets. In this tough economy, $224 can go a long way. It can pay some bills, even put some groceries on the table.

The Camden County Finance Director has it right.

"They [Glynn County] really should be rolling taxes back at that point," Fender said.

Sitting on $34 million that does not belong to you, all the while trying to figure out ways to spend it, is not right.